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Higher wages push stocks to records, but Dow misses 20,000

So close! The Dow Jones industrial average missed the 20,000 mark by a fraction of a point Friday as U.S. stock indexes rose after the government said wages jumped in December. Two other major indexes set records.

Stocks wavered between gains and losses in the morning after the December jobs report, which showed less hiring than analysts hoped to see. Bond yields rose sharply, as the continued job gains should encourage the Federal Reserve to keep raising interest rates.

Indexes turned higher as investors concluded that the rising wages will lead to more spending on technology and consumer goods. Industrial companies rose as investors hoped for greater economic...

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